6.17 Ethereum Morning Analysis:
Last night we enjoyed a profit of 140 points from our long position at 2520, after which ETH surged to 2680 and began to pull back along with the market. The current market seems a bit shaky, so we will look for short opportunities in the morning.
Current Trend:
• 4-hour Chart: After a surge, a large bearish candle has come down, and both KDJ and RSI are turning downwards, indicating that the bulls are losing strength, and the short-term bears are in control.
• 1-hour Chart: Two consecutive bearish candles have broken the middle support line, with KDJ forming a death cross and widening, indicating there is still room for a pullback in the short term.
Morning Strategy:
• Short near 2590-2620, targeting 2500-2480
• If it quickly breaks below 2550, one can follow the trend and short; if it bounces back and stabilizes at 2630, then hold the short position and observe.
Remember to set stop losses, don't hold onto losing positions!
